Rental Income Rental income includes any payment received for the use or occupancy of property. In addition to normal rent payments, the following items are reported as rental income. Types of Rental Income Description Ad...

Recordkeeping for Tax Purposes Which records should you keep? You should keep information that you and the IRS need to determine your correct tax. Everyone should keep the following records. Copies of tax returns. Keep ...

What You Need to Know About Partnerships? A partnership is the relationship existing between two or more persons who join together to carry on a trade or business. Each person contributes money, property, labor, or skill ...